Useful information

The CAIA® Charter is a rigorous, self-study education program designed for finance professionals who seek a high level of knowledge and demonstrated expertise in alternative investments. The CAIA® Charter is recognized as the global benchmark in alternative investment education.

The CAIA® curriculum provides breadth and depth by first placing emphasis on understanding alternative asset classes and then building applications in manager selection, risk management, and asset allocation.

CAIA® Level 1

The Level 1 curriculum builds a foundation by introducing candidates to alternative asset classes and the role of active management in asset allocation and portfolio construction.

CAIA® Level 2

Level 2 provides advanced coverage of several Level I topics and introduces candidates to recent academic and industry research in alternative investments, asset allocation, and risk management.

Kaplan Learning Institute (KLI) is an Approved Program Provider for the Chartered Alternative Investment Analyst Association (CAIA®) Program for both level 1 and 2. The tuition provided to candidates by Kaplan Learning Institute complements the CAIA® Program distance education program, helping to prepare candidates for their CAIA® Program exams.

Partnering with Kaplan Schweser

Kaplan is part of Kaplan Group together with Schweser™ — widely recognized as the leading provider of CAIA® study material.

The Kaplan Way employs a three-phase learning strategy: Prepare ▸ Practice ▸ Perform™. By using this model as our foundation, we have constructed the most effective, comprehensive study packages in the industry, each specifically designed to help our students achieve success on the CAIA® exam.

In order to register as a candidate for the CAIA® program, a student is assumed to have an elementary understanding of the basic concepts of finance.

However, there is no requirement to demonstrate such an understanding to the CAIA® Association prior to becoming a Level I candidate.

Exam registration is a quick three-step online process: complete an exam registration form, sign the CAIA® Candidate and Member Agreement, purchase an exam and schedule an exam appointment.

Registering for the first exam also enrolls you as a candidate in the CAIA® Program. This requires a one-time program enrollment fee in addition to the exam registration fee.

To book your exam, apply direct to CAIA® Association for registration and enrollment. You may register online at www.caia.org. CAIA® Association will acknowledge your registration and enrollment via email.

Candidates are to refer to the CAIA® Association website for the fee information and registration deadlines for the March and September examinations.

Please note that Kaplan Financial is not responsible for candidate’s enrollment and exam registration.

On the path to becoming a CAIA® Charter Holder, candidates must pass both the CAIA® Level 1 and Level 2 exams.

Exam Format

CAIA® Level 1

The Level 1 examination, administered twice annually, is a four-hour computer-administered examination that is offered at test centers throughout the world. The Level I examination is composed of 200 multiple choice questions, fewer than 30% of which will require calculations.

CAIA® Level 2

The Level 2 examination, administered twice annually, is a four-hour computer-administered examination that is offered at test centers throughout the world. The format of the Level II examination includes 100 multiple-choice questions in section 1, and three multi-part constructed response (essay-type) questions in section 2.

The CAIA® exams are administered via computer exclusively at proctored Pearson VUE test centers around the world. Review the current list of exam locations to learn where the CAIA exams are being offered. If a particular location does not appear on this list, the CAIA exams are not currently being delivered there. For more information and to view a list of current sites offering the CAIA® exams, visit Pearson VUE’s Exam Locations page.

Neither the CAIA® Association nor Pearson VUE can guarantee availability of appointments at any test center for any given exam on any specific date. Test centers have limited capacity, and morning appointments are generally more available than later appointments.

Appointments are on a first-come, first-served basis. If a candidate’s preferred location, time, and/or date is not available, it is solely the candidate’s responsibility to locate, and arrange for transportation to, an alternate test center. Deferments will not be granted to candidates who are unable to sit for the exam due to lack of preferred site availability or failure to schedule an appointment.